每经记者｜张怀水 每经编辑｜毕陆名 今年上半年中国GDP增速取得6.8%的好成绩。而解构外贸这一重要"科目"，还将发现许多看点。上半 年，全国货物进出口总额达到14.12万亿元，而广东、江苏、上海和浙江四省份的进出口总额就达到8.23 万亿元，占全国总量的58.3%。不过，进出口总量居第一的广东出口增速出现负增长。而在中缅油气管 道进口的石油、天然气带动之下，云南"逆袭"领跑全国贸易增速榜。总体而言，上半年各地外贸既 有"颜值"，更有"气质"。 日前，《每日经济新闻》记者通过对全国21个省、3直辖市和3个自治区（西藏、宁夏未公布相关数据除 外）今年上半年的外贸数据进行详细梳理后，发现东部省份在贸易规模上继续占绝对优势，仍然是外 贸"绩优生"，而西部省份在贸易增速上明显赶超东部，后发优势明显、潜力巨大。值得一提的是，虽然 西部省份在贸易增速上领跑全国，但多数西部省份进出口增速保持两位数增长的同时，彼此的差距也在 拉大。 广东上半年出口现负增长 倘若比起贸易规模和体量，东部沿海地区省份无疑具有明显的优势。在"万亿俱乐部"中，广东、江苏、 上海和浙江已经成为"常客"。而粤苏沪浙4省市进出口总额占全国总量的比重已经接 ...

Core Insights - The eighth China International Import Expo showcased the potential of Latin American companies, particularly from Peru and Ecuador, in tapping into the Chinese market for fresh produce and flowers [2] - The opening of Qianhai Port, a key project under the Belt and Road Initiative between China and Peru, has significantly reduced shipping times and costs for Peruvian goods to China [2] Trade and Economic Impact - Qianhai Port's operational efficiency has decreased the shipping time from Peru to China from over 30 days to 23 days, resulting in a logistics cost reduction of over 20% [2] - In the first three quarters of this year, bilateral trade between China and Ecuador reached approximately $12.919 billion, marking a 26.2% increase compared to the same period in 2024 [2] - China's imports from Ecuador amounted to $7.293 billion, reflecting a year-on-year growth of 24% [2]

Core Insights - The China International Import Expo (CIIE) serves as a platform for enhancing cooperation between China and African countries, particularly the least developed nations, promoting mutual benefits and inclusivity [1][2] Group 1: Economic Partnerships - China is actively signing economic partnership agreements, implementing 100% zero-tariff policies on products from 53 African countries, with the Republic of Congo being the first to benefit from this initiative [1] - The signing of the early harvest arrangement between China and the Republic of Congo marks a significant step in enhancing bilateral trade relations [1] Group 2: Participation and Growth - The current CIIE has established a dedicated area for the least developed countries, attracting 163 enterprises from 37 such nations, representing a 23.5% year-on-year increase [1] - The number of African enterprises participating in the expo has surged by 80% compared to the previous year, indicating a growing interest and engagement from the continent [1] Group 3: Market Opportunities - The CIIE provides a platform for countries like Rwanda to expand their exports of coffee, tea, and peppers, benefiting from China's market access, technology exchange, and investment [2] - The collaboration between Rwanda and China exemplifies the spirit of South-South cooperation, contributing to agricultural transformation and sustainable development in Rwanda [2]

Core Insights - The launch of the container service by YN Energy Holdings marks the official opening of the "Yulu Convenient Sea Passage" intermodal logistics project, enhancing logistics connectivity between Henan and the eastern coastal regions [1][2] - The project is expected to significantly improve the logistics landscape in the region, reducing overall logistics costs and transportation time for exports [2] Group 1: Logistics Development - A container train carrying 3,100 tons of chemical coal has departed from the Henan Coal Storage and Distribution Trading Center, establishing a new logistics link [1] - The intermodal operation at Shandong Port has seen a 53.3% year-on-year increase, with 114,000 TEUs handled in the first three quarters of 2025 [1] - The logistics channel focuses on iron ore transportation between Rizhao Port and Hebi Shifeng Station, with an expected annual shipment volume of 360,000 tons [1] Group 2: Infrastructure and Capacity - The Henan Coal Storage and Distribution Trading Center has established two coal storage bases with a static storage capacity of 2.25 million tons and an annual dispatch capacity of 20 million tons [1] - The integration of the Wazhi Railway and Jingguang Railway enhances the logistics capabilities, creating a new "inland storage—railway direct—port export" logistics channel [2] - The container business will focus on heavy goods such as premium coal, minerals, steel, cement clinker, and high-value-added chemical products, promoting versatile logistics solutions [2]

证券代码：603260 证券简称：合盛硅业 公告编号：2025-067 三、主要原材料的价格变动情况（不含税） | 主要产品 | 2025 年三季度 平均价格（元/吨） | 2025 年二季度 平均价格（元/吨） | 2024 年三季度 平均价格（元/吨） | 环比变 动比率 | 同比变 动比率 | | --- | --- | --- | --- | --- | --- | | | | | | （%） | （%） | | 矿石 | 223.56 | 512.35 | 384.41 | -56.37 | -41.84 | | 石油焦 | 3,021.50 | 1,944.90 | 1,356.87 | 55.36 | 122.68 | | 硅厂煤 | 565.41 | 604.74 | 820.37 | -6.50 | -31.08 | | 电厂用煤 | 179.86 | 180.95 | 231.89 | -0.60 | -22.44 | | 甲醇 | 1,666.46 | 1,718.04 | 2,012.87 | -3.00 | -17.21 | | 氯甲烷 | 1,985.49 | 1,940.25 | ...

Report Industry Investment Rating - Not provided in the document Core View - The report presents the basis data of various futures varieties on October 27, 2025, including macro, black, energy - chemical, non - ferrous, and agricultural products, along with the corresponding spot prices, price changes, basis values, basis - corresponding contracts, and basis deviation degrees [2][3][4][5] Summary by Category Macro - On October 27, 2025, for IF, the spot price was 4716 with a change of 55, the basis was 32, the corresponding contract was 2512, and the basis deviation degree was 0.76; for IH, the spot price was 3070 with a change of 24, the basis was 3, the corresponding contract was 2512, and the basis deviation degree was 0.30; for IC, the spot price was 7379 with a change of 120, the basis was 125, the corresponding contract was 2512, and the basis deviation degree was 0.90 [2] Black - In Shanghai on October 27, 2025, the spot price of rebar was 3210 with a change of 10, the basis was 110, the corresponding contract was 2601, and the basis deviation degree was 0.34; in Beijing, the spot price was 3210 with a change of - 20, the basis was 110, the corresponding contract was 2601, and the basis deviation degree was - 0.26. For hot - rolled coil in Shanghai, the spot price was 3330 with no change, the basis was 21, the corresponding contract was 2601, and the basis deviation degree was 0.27. For ore in Shandong, the spot price was 840 with a change of 15, the basis was 54, the corresponding contract was provided by a third - party, and the basis deviation degree was 0.46. For coke in Tianjin Port, the spot price was 1656 with no change, the basis was - 124, the corresponding contract was 2601, and the basis deviation degree was - 0.72. For coking coal with port warehouse receipts, the spot price was 1623 with a change of 6, the basis was 359, the corresponding contract was 2601, and the basis deviation degree was 0.74. For steam coal in Qinhuangdao Port, the spot price was 768 with a change of - 1, the basis was - 33, the corresponding contract was 2511, and the basis deviation degree was - 0.17. For glass at the low price in Shahe, the spot price was 1095 with a change of - 9, the basis was 0, the corresponding contract was 2601, and the basis deviation degree was 0.05; in Hubei at the low price, the spot price was 1040 with a change of - 30, the basis was - 55, the corresponding contract was 2601, and the basis deviation degree was - 0.14. For ferrosilicon in Yinchuan, the spot price was 5570 with a change of - 30, the basis was - 114, the corresponding contract was 2601, and the basis deviation degree was - 0.80. For silicomanganese in Inner Mongolia, the spot price was 6050 with no change, the basis was 178, the corresponding contract was 2601, and the basis deviation degree was 0.62 [3] Energy - Chemical - On October 27, 2025, for methanol at the port, the spot price was 2232 with no change, the basis was - 55, the corresponding contract was provided by a third - party, and the basis deviation degree was - 0.88; in Henan, the spot price was 2315 with a change of - 35, the basis was 47, the corresponding contract was 2601, and the basis deviation degree was 0.14; in southern Shandong, the spot price was 2475 with a change of - 10, the basis was 207, the corresponding contract was 2601, and the basis deviation degree was 0.52; in Hebei, the spot price was 2625 with a change of - 160, the basis was 357, the corresponding contract was 2601, and the basis deviation degree was 0.82. For PTA in East China, the spot price was 4534 with a change of 98, the basis was - 82, the corresponding contract was provided by a third - party, and the basis deviation degree was - 0.83. For PP in East China, the spot price was 6585 with a change of 10, the basis was - 114, the corresponding contract was provided by a third - party, and the basis deviation degree was - 0.88. For LLDPE in North China, the spot price was 6930 with a change of 20, the basis was - 94, the corresponding contract was provided by a third - party, and the basis deviation degree was - 0.56. For high - end PVC, the spot price was 4625 with no change, the basis was - 90, the corresponding contract was provided by a third - party, and the basis deviation degree was 0.63; for low - end PVC, the spot price was 4565 with a change of 10, the basis was - 150, the corresponding contract was provided by a third - party, and the basis deviation degree was 0.78. For asphalt in East China, the spot price was 3500 with no change, the basis was 205, the corresponding contract was 2601, and the basis deviation degree was 0.24; in Shandong, the spot price was 3340 with a change of - 10, the basis was 125, the corresponding contract was 2601, and the basis deviation degree was 0.07; in South China, the spot price was 3520 with a change of 20, the basis was 205, the corresponding contract was 2601, and the basis deviation degree was 0.51. For ethylene glycol in the domestic market, the spot price was 4191 with a change of 19, the basis was 82, the corresponding contract was provided by a third - party, and the basis deviation degree was 0.78. For soda ash, the spot price was 1170 with a change of 20, the basis was - 76, the corresponding contract was 2601, and the basis deviation degree was - 0.54. For pulp in Shandong, the spot price was 4990 with no change, the basis was - 268, the corresponding contract was 2601, and the basis deviation degree was - 0.94. For staple fiber in East China, the spot price was 6150 with a change of - 30, the basis was - 92, the corresponding contract was 2512, and the basis deviation degree was - 0.89. For urea, the spot price was 1520 with a change of 30, the basis was - 120, the corresponding contract was 2601, and the basis deviation degree was - 0.90. For natural rubber in Shanghai, the spot price was 15000 with a change of 40, the basis was - 380, the corresponding contract was 2601, and the basis deviation degree was 0.62; for whole - latex natural rubber, the spot price was 14680 with a change of 45, the basis was - 700, the corresponding contract was 2601, and the basis deviation degree was 0.55. For 20 - grade rubber in Qingdao, the spot price was 1860 with a change of 5, the basis was 682, the corresponding contract was 2512, and the basis deviation degree was 0.95. For styrene, the spot price was 6505 with a change of - 10, the basis was - 26, the corresponding contract was 2512, and the basis deviation degree was - 0.98 [3] Non - Ferrous - On October 27, 2025, for copper, the spot price was 88210 with a change of 1735, the basis was - 35, the corresponding contract was provided by a third - party, and the basis deviation degree was - 0.52; for international copper, the spot price was 78225 with a change of 1450, the basis was - 635, the corresponding contract was 2511, and the basis deviation degree was 0.04. For aluminum, the spot price was 21160 with a change of 50, the basis was - 40, the corresponding contract was provided by a third - party, and the basis deviation degree was - 0.36. For zinc, the spot price was 22210 with a change of 20, the basis was - 50, the corresponding contract was provided by a third - party, and the basis deviation degree was - 0.73. For lead, the spot price was 17250 with a change of - 50, the basis was - 215, the corresponding contract was provided by a third - party, and the basis deviation degree was - 0.43. For nickel, the spot price was 122250 with a change of 200, the basis was 400, the corresponding contract was provided by a third - party, and the basis deviation degree was 0.76. For tin, the spot price was 283500 with a change of 1600, the basis was - 3220, the corresponding contract was provided by a third - party, and the basis deviation degree was - 0.90 [4] Agricultural Products - On October 27, 2025, for 43% soybean meal in Jiangsu, the spot price was 2900 with a change of - 10, the basis was - 32, the corresponding contract was 2601, and the basis deviation degree was - 0.10. For first - grade soybean oil in Jiangsu, the spot price was 8470 with a change of 30, the basis was 236, the corresponding contract was 2601, and the basis deviation degree was - 0.14. For 36% rapeseed meal at the average price in Guangdong, the spot price was 2470 with a change of 10, the basis was 135, the corresponding contract was 2601, and the basis deviation degree was 0.90. For rapeseed oil at the market average price, the spot price was 10273 with a change of - 10, the basis was 525, the corresponding contract was 2601, and the basis deviation degree was 0.99. For 24° palm oil in Guangzhou, the spot price was 9000 with a change of - 50, the basis was - 100, the corresponding contract was 2601, and the basis deviation degree was - 0.93. For cotton nationwide, the spot price was 14565 with a change of 10, the basis was 1000, the corresponding contract was 2601, and the basis deviation degree was 0.52. For white sugar in Guangxi, the spot price was 5750 with no change, the basis was 305, the corresponding contract was 2601, and the basis deviation degree was 0.07; in Yunnan, the spot price was 5825 with a change of - 5, the basis was 380, the corresponding contract was 2601, and the basis deviation degree was 0.50. For fresh eggs in Shijiazhuang, Hebei, the spot price was 2960 with no change, the basis was - 174, the corresponding contract was 2512, and the basis deviation degree was - 0.52; in Dalian, Liaoning, the spot price was 2890 with no change, the basis was - 244, the corresponding contract was 2512, and the basis deviation degree was - 0.59; in Dezhou, Shandong, the spot price was 2750 with no change, the basis was - 384, the corresponding contract was 2512, and the basis deviation degree was - 0.70; in Shangqiu, Henan, the spot price was 2800 with no change, the basis was - 334, the corresponding contract was 2512, and the basis deviation degree was - 0.72. For soybeans in Bei'an, the spot price was 4060 with no change, the basis was - 17, the corresponding contract was 2601, and the basis deviation degree was - 0.68; in Jiamusi, the spot price was 4140 with no change, the basis was 63, the corresponding contract was 2601, and the basis deviation degree was - 0.33. For corn in Changchun, the spot price was 2240 with no change, the basis was 128, the corresponding contract was 2601, and the basis deviation degree was 0.58; in Weifang, the spot price was 2350 with no change, the basis was 238, the corresponding contract was 2601, and the basis deviation degree was 0.53. For starch in Changchun, the spot price was 2580 with no change, the basis was 125, the corresponding contract was 2601, and the basis deviation degree was 0.32; in Weifang, the spot price was 2605 with no change, the basis was 190, the corresponding contract was 2601, and the basis deviation degree was 0.73. For live pigs in Kaifeng, Henan, the spot price was 12050 with a change of 200, the basis was - 280, the corresponding contract was 2601, and the basis deviation degree was - 0.91. For red dates in Hebei, the spot price was 9600 with no change, the basis was - 790, the corresponding contract was 2601, and the basis deviation degree was - 0.21. For apples in Shandong, the spot price was 7400 with a change of 1000, the basis was - 1536, the corresponding contract was 2601, and the basis deviation degree was - 0.72 [5]

Core Insights - The launch of the "Sichuan Yibin Port - Chongqing Guoyuan Port Lithium Battery" shipping route marks a new phase for the "Qianli Qingzhou" freight service, which has now opened a total of 10 trial routes, indicating a shift to regular operations [1][3] - The "Qianli Qingzhou" service aims to enhance the role of shipping in supporting domestic and international dual circulation and reducing overall logistics costs in society [1][3] Summary by Categories Operational Highlights - As of now, "Qianli Qingzhou" has completed over 200 one-way voyages, transporting a total of 1 million tons of goods, which has saved over 5 million RMB in logistics costs, representing a cost reduction of 25% [3] - The majority of goods transported include bulk materials such as construction materials, ores, and chemical raw materials, which account for over 90% of the total cargo [3] Future Plans - The Chongqing Transportation Committee plans to strengthen regional collaboration, optimize layout, and enhance synergy to develop a multi-modal logistics system that connects the upper reaches of the Yangtze River [3] - The goal is to create a benchmark brand for high-quality development in inland shipping, focusing on convenience in multi-modal transport, regularized shipping modes, and intelligent logistics services [3]

Report Industry Investment Rating - Not provided in the content Core Viewpoint - Not provided in the content Summary by Category Macro - On October 23, 2025, the spot price of IF was 4606 with a change of 13, the basis was 26, the corresponding contract was 2512, and the basis deviation was 0.62 [2] - The spot price of IH was 3027 with a change of 17, the basis was 3, the corresponding contract was 2512, and the basis deviation was 0.34 [2] - The spot price of IC was 7143 with a change of 15, the basis was 103, the corresponding contract was 2512, and the basis deviation was 0.84 [2] Black - For Shanghai's rebar on October 23, 2025, the spot price was 3220 with a change of 10, the basis was 149, the corresponding contract was 2601, and the basis deviation was 0.78 [3] - Beijing's rebar had a spot price of 3200 with a change of -10, the basis was 129, the corresponding contract was 2601, and the basis deviation was -0.06 [3] - Shanghai's hot - rolled coil had a spot price of 3300 with no change, the basis was 44, the corresponding contract was 2601, and the basis deviation was 0.70 [3] - Shandong's ore had a spot price of 831 with a change of 3, the basis was 54, the corresponding contract was provided by a third - party, and the basis deviation was 0.45 [3] - Tianjin Port's coke had a spot price of 1656 with no change, the basis was -112, the corresponding contract was 2601, and the basis deviation was -0.69 [3] - Port warehouse receipts of coking coal had a spot price of 1614 with a change of 36, the basis was 355, the corresponding contract was 2601, and the basis deviation was 0.70 [3] - Qinhuangdao Port's thermal coal had a spot price of 767 with a change of 3, the basis was -34, the corresponding contract was 2511, and the basis deviation was -0.17 [3] - Shahe's low - price glass had a spot price of 1104 with no change, the basis was -4, the corresponding contract was 2601, and the basis deviation was -0.01 [3] - Hubei's low - price glass had a spot price of 1070 with no change, the basis was -38, the corresponding contract was 2601, and the basis deviation was 0.00 [3] - Yinchuan's ferrosilicon had a spot price of 5580 with no change, the basis was -114, the corresponding contract was 2601, and the basis deviation was -0.80 [3] - Inner Mongolia's ferromanganese had a spot price of 6050 with no change, the basis was 162, the corresponding contract was 2601, and the basis deviation was 0.57 [3] Energy and Chemicals - Port methanol on October 23, 2025, had a spot price of 2250 with no change, the basis was -42, the corresponding contract was provided by a third - party, and the basis deviation was -0.88 [3] - Henan's methanol had a spot price of 2350 with a change of 25, the basis was 58, the corresponding contract was 2601, and the basis deviation was 0.24 [3] - Southern Shandong's methanol had a spot price of 2485 with no change, the basis was 193, the corresponding contract was 2601, and the basis deviation was 0.43 [3] - Hebei's methanol had a spot price of 2785 with no change, the basis was 493, the corresponding contract was 2601, and the basis deviation was 0.97 [3] - East China's PTA had a spot price of 4423 with a change of 29, the basis was -85, the corresponding contract was provided by a third - party, and the basis deviation was -0.87 [3] - East China's PP had a spot price of 6560 with a change of 40, the basis was -131, the corresponding contract was provided by a third - party, and the basis deviation was -0.93 [3] - North China's LLDPE had a spot price of 6920 with a change of 60, the basis was -79, the corresponding contract was provided by a third - party, and the basis deviation was -0.40 [3] - High - end PVC had a spot price of 4625 with a change of 5, the basis was -90, the corresponding contract was provided by a third - party, and the basis deviation was 0.64 [3] - Low - end PVC had a spot price of 4555 with a change of 5, the basis was -160, the corresponding contract was provided by a third - party, and the basis deviation was 0.72 [3] - East China's asphalt had a spot price of 3500 with no change, the basis was 223, the corresponding contract was 2601, and the basis deviation was 0.30 [3] - Shandong's asphalt had a spot price of 3330 with a change of 20, the basis was 133, the corresponding contract was 2601, and the basis deviation was 0.10 [3] - South China's asphalt had a spot price of 3500 with no change, the basis was 223, the corresponding contract was 2601, and the basis deviation was 0.56 [3] - Domestic ethylene glycol had a spot price of 4185 with a change of 55, the basis was 90, the corresponding contract was provided by a third - party, and the basis deviation was 0.84 [3] - Soda ash had a spot price of 1150 with a change of 20, the basis was -85, the corresponding contract was 2601, and the basis deviation was -0.62 [3] - Shandong's pulp had a spot price of 5000 with a change of 5, the basis was -250, the corresponding contract was 2601, and the basis deviation was -0.92 [3] - East China's staple fiber had a spot price of 6150 with a change of 30, the basis was -10, the corresponding contract was 2512, and the basis deviation was -0.22 [3] - Urea had a spot price of 1490 with no change, the basis was -148, the corresponding contract was 2601, and the basis deviation was -0.95 [3] - Shanghai's natural rubber had a spot price of 14880 with a change of 80, the basis was -365, the corresponding contract was 2601, and the basis deviation was 0.64 [3] - Whole latex natural rubber had a spot price of 14545 with a change of 95, the basis was -700, the corresponding contract was 2601, and the basis deviation was 0.56 [3] - Qingdao's 20 - number rubber had a spot price of 1830 with a change of 5, the basis was 606, the corresponding contract was 2512, and the basis deviation was 0.93 [3] - Styrene had a spot price of 6560 with no change, the basis was 15, the corresponding contract was 2511, and the basis deviation was -0.81 [3] Non - ferrous - On October 23, 2025, copper had a spot price of 85500 with a change of 520, the basis was 20, the corresponding contract was provided by a third - party, and the basis deviation was -0.07 [4] - International copper had a spot price of 75695 with a change of 670, the basis was -965, the corresponding contract was 2511, and the basis deviation was -0.35 [4] - Aluminum had a spot price of 21040 with a change of 60, the basis was -10, the corresponding contract was provided by a third - party, and the basis deviation was 0.12 [4] - Zinc had a spot price of 22100 with a change of 200, the basis was -60, the corresponding contract was provided by a third - party, and the basis deviation was -0.82 [4] - Lead had a spot price of 17125 with a change of 125, the basis was -205, the corresponding contract was provided by a third - party, and the basis deviation was -0.36 [4] - Nickel had a spot price of 121300 with a change of 50, the basis was 400, the corresponding contract was provided by a third - party, and the basis deviation was 0.76 [4] - Tin had a spot price of 280000 with a change of -1000, the basis was -1230, the corresponding contract was provided by a third - party, and the basis deviation was -0.67 [4] Agricultural Products - On October 23, 2025, 43% soybean meal in Jiangsu had a spot price of 2910 with a change of 50, the basis was -28, the corresponding contract was 2601, and the basis deviation was -0.09 [5] - First - grade soybean oil in Jiangsu had a spot price of 8410 with a change of -70, the basis was 222, the corresponding contract was 2601, and the basis deviation was -0.20 [5] - 36% rapeseed meal in Guangdong had a spot price of 2470 with a change of 30, the basis was 131, the corresponding contract was 2601, and the basis deviation was 0.88 [5] - Rapeseed oil at the market average price had a spot price of 10283 with a change of -100, the basis was 526, the corresponding contract was 2601, and the basis deviation was 0.99 [5] - 24° palm oil in Guangzhou had a spot price of 9000 with a change of -140, the basis was -132, the corresponding contract was 2601, and the basis deviation was -0.97 [5] - National cotton had a spot price of 14575 with a change of 15, the basis was 1000, the corresponding contract was 2601, and the basis deviation was 0.53 [5] - Guangxi's sugar had a spot price of 5750 with no change, the basis was 293, the corresponding contract was 2601, and the basis deviation was -0.02 [5] - Yunnan's sugar had a spot price of 5830 with no change, the basis was 373, the corresponding contract was 2601, and the basis deviation was 0.49 [5] - Fresh eggs in Shijiazhuang, Hebei had a spot price of 2870 with a change of 90, the basis was -157, the corresponding contract was 2512, and the basis deviation was -0.50 [5] - Fresh eggs in Dalian, Liaoning had a spot price of 2800 with a change of 90, the basis was -227, the corresponding contract was 2512, and the basis deviation was -0.57 [5] - Fresh eggs in Dezhou, Shandong had a spot price of 2650 with no change, the basis was -377, the corresponding contract was 2512, and the basis deviation was -0.70 [5] - Fresh eggs in Shangqiu, Henan had a spot price of 2700 with no change, the basis was -327, the corresponding contract was 2512, and the basis deviation was -0.72 [5] - Beian's soybean had a spot price of 4060 with no change, the basis was -53, the corresponding contract was 2601, and the basis deviation was -0.82 [5] - Jiamusi's soybean had a spot price of 4140 with no change, the basis was 27, the corresponding contract was 2601, and the basis deviation was -0.49 [5] - Changchun's corn had a spot price of 2240 with no change, the basis was 100, the corresponding contract was 2601, and the basis deviation was 0.43 [5] - Weifang's corn had a spot price of 2360 with no change, the basis was 220, the corresponding contract was 2601, and the basis deviation was 0.45 [5] - Changchun's starch had a spot price of 2580 with no change, the basis was 100, the corresponding contract was 2601, and the basis deviation was -0.03 [5] - Weifang's starch had a spot price of 2605 with no change, the basis was 165, the corresponding contract was 2601, and the basis deviation was 0.54 [5] - Pigs in Kaifeng, Henan had a spot price of 11930 with a change of 240, the basis was -270, the corresponding contract was 2601, and the basis deviation was -0.89 [5] - Hebei's jujube had a spot price of 9600 with no change, the basis was -1565, the corresponding contract was 2601, and the basis deviation was -0.68 [5] - Shandong's apples had a spot price of 6400 with no change, the basis was -2430, the corresponding contract was 2601, and the basis deviation was -0.98 [5]

Report Information - The report is the Yong'an Basis Morning Report released by the Research Center on October 22, 2025 [1] Industry Investment Rating - Not provided in the report Core View - Not provided in the report Summary by Category Macro - IF had a spot price of 4608, a change of 70, a basis of 30, a corresponding contract of 2512, and a basis deviation of 0.74 on October 21, 2025 [2] - IH had a spot price of 3007, a change of 32, a basis of 2, a corresponding contract of 2512, and a basis deviation of 0.28 on October 21, 2025 [2] - IC had a spot price of 7186, a change of 116, a basis of 133, a corresponding contract of 2512, and a basis deviation of 0.92 on October 21, 2025 [2] Black - In Shanghai, rebar had a spot price of 3200, no change, a basis of 153, a corresponding contract of 2601, and a basis deviation of 0.83 on October 21, 2025 [3] - In Beijing, rebar had a spot price of 3190, no change, a basis of 143, a corresponding contract of 2601, and a basis deviation of 0.09 on October 21, 2025 [3] - In Shanghai, hot-rolled coil had a spot price of 3270, no change, a basis of 51, a corresponding contract of 2601, and a basis deviation of 0.77 on October 21, 2025 [3] - In Shandong, ore had a spot price of 824, no change, a basis of 54, a corresponding contract provided by a third - party, and a basis deviation of 0.46 on October 21, 2025 [3] - At Tianjin Port, coke had a spot price of 1656, no change, a basis of - 16, a corresponding contract of 2601, and a basis deviation of - 0.12 on October 21, 2025 [3] - For port warehouse receipts, coking coal had a spot price of 1583, a change of - 17, a basis of 406, a corresponding contract of 2601, and a basis deviation of 0.98 on October 21, 2025 [3] - At Qinhuangdao Port, thermal coal had a spot price of 759, a change of 6, a basis of - 42, a corresponding contract of 2511, and a basis deviation of - 0.25 on October 21, 2025 [3] - For low - price glass in Shahe, it had a spot price of 1111, a change of - 24, a basis of 24, a corresponding contract of 2601, and a basis deviation of 0.24 on October 21, 2025 [3] - For low - price glass in Hubei, it had a spot price of 1070, a change of - 20, a basis of - 17, a corresponding contract of 2601, and a basis deviation of 0.17 on October 21, 2025 [3] - In Yinchuan, ferrosilicon had a spot price of 5530, no change, a basis of - 64, a corresponding contract of 2601, and a basis deviation of - 0.60 on October 21, 2025 [3] - In Inner Mongolia, silicomanganese had a spot price of 6050, no change, a basis of 234, a corresponding contract of 2601, and a basis deviation of 0.84 on October 21, 2025 [3] Energy and Chemicals - At the port, methanol had a spot price of 2263, no change, a basis of - 5, a corresponding contract provided by a third - party, and a basis deviation of - 0.48 on October 21, 2025 [3] - In Henan, methanol had a spot price of 2325, a change of - 25, a basis of 57, a corresponding contract of 2601, and a basis deviation of 0.23 on October 21, 2025 [3] - In southern Shandong, methanol had a spot price of 2485, a change of - 15, a basis of 217, a corresponding contract of 2601, and a basis deviation of 0.59 on October 21, 2025 [3] - In Hebei, methanol had a spot price of 2785, a change of 155, a basis of 517, a corresponding contract of 2601, and a basis deviation of 0.98 on October 21, 2025 [3] - In East China, PTA had a spot price of 4327, a change of 28, a basis of - 87, a corresponding contract provided by a third - party, and a basis deviation of - 0.89 on October 21, 2025 [3] - In East China, PP had a spot price of 6510, a change of 20, a basis of - 73, a corresponding contract provided by a third - party, and a basis deviation of - 0.57 on October 21, 2025 [3] - In North China, LLDPE had a spot price of 6840, no change, a basis of - 43, a corresponding contract provided by a third - party, and a basis deviation of - 0.13 on October 21, 2025 [3] - For high - end PVC, it had a spot price of 4615, a change of - 15, a basis of - 90, a corresponding contract provided by a third - party, and a basis deviation of 0.65 on October 21, 2025 [3] - For low - end PVC, it had a spot price of 4545, a change of - 15, a basis of - 160, a corresponding contract provided by a third - party, and a basis deviation of 0.72 on October 21, 2025 [3] - In East China, asphalt had a spot price of 3500, a change of - 50, a basis of 343, a corresponding contract of 2601, and a basis deviation of 0.76 on October 21, 2025 [3] - In Shandong, asphalt had a spot price of 3320, a change of - 10, a basis of 243, a corresponding contract of 2601, and a basis deviation of 0.66 on October 21, 2025 [3] - In South China, asphalt had a spot price of 3500, no change, a basis of 343, a corresponding contract of 2601, and a basis deviation of 0.86 on October 21, 2025 [3] - For the domestic market of ethylene glycol, it had a spot price of 4078, a change of 1, a basis of 74, a corresponding contract provided by a third - party, and a basis deviation of 0.69 on October 21, 2025 [3] - For soda ash, it had a spot price of 1120, a change of - 10, a basis of - 90, a corresponding contract of 2601, and a basis deviation of - 0.67 on October 21, 2025 [3] - In Shandong, pulp had a spot price of 4970, a change of 10, a basis of - 200, a corresponding contract of 2601, and a basis deviation of - 0.76 on October 21, 2025 [3] - In East China, staple fiber had a spot price of 6105, a change of 30, a basis of 35, a corresponding contract of 2512, and a basis deviation of 0.46 on October 21, 2025 [3] - For urea, it had a spot price of 1490, no change, a basis of - 119, a corresponding contract of 2601, and a basis deviation of - 0.90 on October 21, 2025 [3] - In Shanghai, natural rubber had a spot price of 14800, a change of 290, a basis of - 350, a corresponding contract of 2601, and a basis deviation of 0.68 on October 21, 2025 [3] - For whole latex natural rubber, it had a spot price of 14450, a change of 340, a basis of - 700, a corresponding contract of 2601, and a basis deviation of 0.57 on October 21, 2025 [3] - In Qingdao, 20 - number rubber had a spot price of 1845, a change of 20, a basis of 780, a corresponding contract of 2512, and a basis deviation of 1.00 on October 21, 2025 [3] - For styrene, it had a spot price of 6445, a change of 75, a basis of 7, a corresponding contract of 2511, and a basis deviation of - 0.87 on October 21, 2025 [3] Non - ferrous Metals - On October 21, 2025, copper had a spot price of 85720, a change of 70, a basis of 60, a corresponding contract provided by a third - party, and a basis deviation of 0.22 [4] - On October 21, 2025, international copper had a spot price of 75910, a change of 120, a basis of - 50, a corresponding contract of 2511, and a basis deviation of 0.72 [4] - On October 21, 2025, aluminum had a spot price of 20970, a change of 40, a basis of 10, a corresponding contract provided by a third - party, and a basis deviation of 0.45 [4] - On October 21, 2025, zinc had a spot price of 21940, a change of 70, a basis of - 40, a corresponding contract provided by a third - party, and a basis deviation of - 0.60 [4] - On October 21, 2025, lead had a spot price of 17000, a change of 75, a basis of - 195, a corresponding contract provided by a third - party, and a basis deviation of - 0.25 [4] - On October 21, 2025, nickel had a spot price of 121700, a change of 400, a basis of 400, a corresponding contract provided by a third - party, and a basis deviation of 0.77 [4] - On October 21, 2025, tin had a spot price of 281300, a change of 1300, a basis of 430, a corresponding contract provided by a third - party, and a basis deviation of 0.25 [4] Agricultural Products - In Jiangsu, 43% soybean meal had a spot price of 2870, no change, a basis of - 19, a corresponding contract of 2601, and a basis deviation of - 0.06 on October 21, 2025 [5] - In Jiangsu, first - grade soybean oil had a spot price of 8550, a change of 10, a basis of 256, a corresponding contract of 2601, and a basis deviation of - 0.09 on October 21, 2025 [5] - The average price of 36% rapeseed meal in Guangdong had a spot price of 2450, a change of - 30, a basis of 129, a corresponding contract of 2601, and a basis deviation of 0.88 on October 21, 2025 [5] - The market average price of rapeseed oil had a spot price of 10400, a change of - 20, a basis of 536, a corresponding contract of 2601, and a basis deviation of 1.00 on October 21, 2025 [5] - In Guangzhou, 24° palm oil had a spot price of 9290, no change, a basis of - 4, a corresponding contract of 2601, and a basis deviation of - 0.66 on October 21, 2025 [5] - Nationwide, cotton had a spot price of 14530, a change of 50, a basis of 990, a corresponding contract of 2601, and a basis deviation of 0.51 on October 21, 2025 [5] - In Guangxi, white sugar had a spot price of 5770, no change, a basis of 332, a corresponding contract of 2601, and a basis deviation of 0.22 on October 21, 2025 [5] - In Yunnan, white sugar had a spot price of 5840, no change, a basis of 402, a corresponding contract of 2601, and a basis deviation of 0.55 on October 21, 2025 [5] - In Shijiazhuang, Hebei, fresh eggs had a spot price of 2780, a change of - 110, a basis of - 166, a corresponding contract of 2512, and a basis deviation of - 0.51 on October 21, 2025 [5] - In Dalian, Liaoning, fresh eggs had a spot price of 2710, a change of - 110, a basis of - 236, a corresponding contract of 2512, and a basis deviation of - 0.59 on October 21, 2025 [5] - In Dezhou, Shandong, fresh eggs had a spot price of 2650, a change of - 100, a basis of - 296, a corresponding contract of 2512, and a basis deviation of - 0.66 on October 21, 2025 [5] - In Shangqiu, Henan, fresh eggs had a spot price of 2700, a change of - 100, a basis of - 246, a corresponding contract of 2512, and a basis deviation of - 0.70 on October 21, 2025 [5] - In Bei'an, soybeans had a spot price of 4050, no change, a basis of - 11, a corresponding contract of 2601, and a basis deviation of - 0.68 on October 21, 2025 [5] - In Jiamusi, soybeans had a spot price of 4120, no change, a basis of 59, a corresponding contract of 2601, and a basis deviation of - 0.34 on October 21, 2025 [5] - In Changchun, corn had a spot price of 2240, no change, a basis of 96, a corresponding contract of 2601, and a basis deviation of 0.40 on October 21, 2025 [5] - In Weifang, corn had a spot price of 2360, no change, a basis of 216, a corresponding contract of 2601, and a basis deviation of 0.45 on October 21, 2025 [5] - In Changchun, starch had a spot price of 2580, no change, a basis of 121, a corresponding contract of 2601, and a basis deviation of 0.24 on October 21, 2025 [5] - In Weifang, starch had a spot price of 2605, no change,

3 宁德市蕉城区苏某义等人非法开采矿产资源案 2021年至2023年期间，苏某义、沈某金、阮某兰、张某彬、龚某乐、龚某文在未依 法取得采矿许可证的情况下，擅自在宁德市蕉城区漳湾镇下塘村开采矿石。因涉嫌构成非 法采矿罪，2023年4月，蕉城区自然资源局将该案移送公安机关。2024年8月，蕉城区人 民法院作出判决，认定苏某义、沈某金、阮某兰、张某彬、龚某乐犯非法采矿罪，分别判 处苏某义有期徒刑五年，并处罚金人民币八万五千元；判处沈某金有期徒刑三年六个月， 并处罚金人民币四万五千元；判处阮某兰有期徒刑三年，并处罚金人民币四万元；判处张 某彬有期徒刑三年，并处罚金人民币四万元；判处龚某乐有期徒刑一年十一个月，缓刑二 年，并处罚金人民币二万五千元。认定龚某文犯非法采矿罪，判处有期徒刑一年，并处罚 金人民币二万元；并与所犯其它罪数罪并罚，决定执行有期徒刑一年，并处罚金人民币三 万元。 为充分发挥典型案例警示教育作用，近日，省福建自然资源厅公开通报了一批自然资源领域违法犯 罪典型案例。 1 宁德市屏南县某渣土处理有限公司破坏耕地案 2017年至2022年6月期间，屏南某渣土处理有限公司未经批准，擅自占用屏南县棠 口镇际头工 ...